How a Home-Based Business Can Change Your Life
Category : Home-Based Business
Chances are, somewhere along the line, you have been approached about a home-based business. The person who told you about it may have called it multi-level marketing, network marketing, or anything in between. Those phrases are used fairly synonymous with one another and rightfully so. You may have seen some things you liked about the opportunity and you may have also seen (or heard) some things you didn’t like. Well let me stretch your thinking a little bit and submit to you 5 reasons why I think a home-based business is something that everyone should be a part of.
1 – It Will Create a Flow of Residual Income
Have you ever heard the term residual income? If your answer was no, don’t worry, most people are in the same boat. I had never heard of residual income until I was introduced to the Network Marketing in 2013. Residual income is simply defined as doing work one time and getting paid on it over and over again, long after the initial work is completed. Usually the next thought in that discussion is something along the lines of wondering what residual income actually looks like in the real world. Most people say that they have created some form of residual income for themselves when they really haven’t. There are only a handful of true examples of it. Your job doesn’t create residual income because if you don’t show up every day and trade your time for money then you don’t get paid. Owning your own business doesn’t create residual income because, as most business owners know, your workload is usually two to three times larger as the owner of a business than as just an employee. You have to wear many hats and usually have to become the accountant, the supervisor, the HR rep, the janitor, the maintenance man, etc. The list of responsibilities just goes on and on. That is definitely not residual income because you are just getting paid more money to do more work. You’re still trading hours for dollars. Rental properties also don’t create residual income because if something goes wrong on the property then you have to be the one to go and fix the problem and spend the money you just made from your tenants rent, to do so.
2 – It Will Provide You With More Options
Money is great. As Jim Rohn said, “it ranks right up there with oxygen.” However, home based businesses are about so much more than the money. They are about the options that money provides for you and your family.
Think about the things you could do or the memories you could make if you did not have to worry about how you were going to earn enough money to eat, to buy clothes to wear, or to afford a house to live in every month. If you could create something that would pay all of your bills every month whether you worked or not, would that give you more freedom and more options? That is exactly what you get with a home based business, more options. No one is saying that you have to quit your job or work your business full time. This opportunity does however, give you the option to do what you WANT to do and not what you HAVE to do.
3 – It Will Force You to Develop Yourself Personally
I heard Tony Robbins say it best when he said, “Your income will never outgrow your personal development.” That is definitely the case in the network marketing industry. In a home-based business you will only earn what you are worth. In order for that worth to be of any significance you must develop yourself personally, emotionally, financially, spiritually, and intellectually in order to have any success in this business. If you cannot do that then your income won’t grow and that magic “financial freedom” number will always be just out of reach. How can you lead hundreds and even thousands of people in accomplishing their goals if you don’t know how to lead. If you can’t speak in public, how are you going to be able to share your story at presentations or talk to people about your product, service, or opportunity. The good thing about the skills needed to be successful in this business is that they can be developed over time and the list is fairly short. The skills are not something you have to master before you get started. My business partner, David Lee, always likes to paraphrase Brian Tracy by saying, “You earn as you learn,” and that could not be more true than with a home-based business.
4 – It Will Start as a Part Time Hobby but Will Turn Into a Full Time Passion
Most people that start a home-based business, do so on a part time basis. Usually they work their business in their spare time, such as on the commute to work, after the kids go to bed, or on their lunch break. Once you start to see some momentum and growth, your part time business will gradually turn into a full time passion. Your mindset will start to shift and you will be thinking about your business 24/7 and how you can create more growth, change more lives, and develop your legacy into something that the future generations of your family would be proud of. If you stick with it long enough, at some point, you will decide to go full time in your home-based business and spend your time creating memories with your family and helping other people create that financial freedom for themselves, see point #5. Another great Jim Rohn quote goes something like this, “I am working full time on my job and part time on my fortune so that one day I can work full time on my passion.”
5 – It Will Change Other People’s Lives in the Process
As you grow your home-based business you will quickly begin to realize that not everything is about you. Of course you may have started your business to accomplish a certain personal task or achieve a financial goal, but that is not how you will continue to see things. You will begin to notice all of the other lives that you are changing and the financial goals that you are helping other people achieve. Your mindset begins to shift from thinking about how you can help yourself to how you can most effectively help others.
Your goals will change from things like “I need to trigger a few bonuses this week in order to buy new tires on my car and make my mortgage payment,” to “I need to help Michael trigger a bonus this month because his son, Trevor, needs braces and they do not have the money to spare right now.” I love the Zig Ziglar quote which says. “You can have everything you want in life, if you just help enough people get what they want.” This quote could not be more applicable to anything other than network marketing. When you change the lives of enough people it will create more options, freedom, and financial independence than you have ever dreamed possible.
These are just 5 reasons among thousands why a home-based business will change your life. If you have not taken a serious look at building something for yourself please do so, even if it is not with me. You deserve to have everything in life that you want but you cannot do that unless you create something for yourself. Working for a paycheck will not allow the freedoms, time or financial, that you are looking for.
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